Noor Bank & Azimut MoU signing/Supplied

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Noor Bank raises AED 500 million for Azimut’s fixed maturity fund

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The fixed maturity fund (FMP) that will mature in four years is set to provide an income of five per cent per annum through investing in a professionally managed Sukuk portfolio.

Sunday 07, July 2019 BY KUDAKWASHE MUZORIWA

Noor Bank has partnered with Azimut to launch US-dollar Islamic fixed maturity plan (FMP) in the UAE under a Dubai International Financial Centre (DIFC) domiciliation.

Mufazzal Kajiji, the Head of Retail Banking at Noor Bank, said, “The launch of this four-year FMP reaffirms our commitment to creating diverse investment opportunities for our high-net-worth customers.”

“Azimut is one of the very few international asset managers that operates locally out of DIFC, designing and launching tailor-made investment solutions for Middle East investors,” added Giorgio Medda, Azimut Group’s Co-CEO and Head of MENAT.

Azimut is an asset management company regulated by the Dubai Financial Services Authority (DFSA) and a full subsidiary of Azimut Group Holding, a leading European independent asset manager.

 

TAGS : Noor Bank, Azimut, Dubai Financial Services Authority, Dubai International Financial Centre , fixed maturity plan

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